Suze Orman TwitterSuze Orman FacebookSuze Orman YouTubeSuze Orman LinkedIn
View Blog & News List

Will Your Holiday Spending Pass This 3-Question Test?

November 05, 2015 at 12:00 AM

We’re heading into the dangerous money season. With the holidays quickly approaching it’s that annual time of year when the goodness of your heart can lead to very bad results: You overspend on gifts, dining out, or nights out on the town. 

Then come January the bills come due and you are in a big financial fix that either ends up with you running a credit card balance at an insanely high interest rate, or you scale back important financial goals-adding to your emergency fund, increasing your retirement savings-because you need more cash to pay off your holiday spending binge.

I can help you avoid this big financial mistake. All you need to do is memorize my 3-question test:

Is it kind?

Is it necessary?

Is it true?

Those are the three gatekeepers I personally use when I have a decision to make. I slow down and carefully ask myself all three questions. I will not do something if it is not kind, to me. Necessary, for me. And true to what I need and what I believe.

Those three gatekeepers can help you slow down before you overspend this holiday season. A gift purchase that comes from the deepest, purest place in your heart is nonetheless a mistake if it is not kind, to you. What do I mean by that? Well, if you can’t really afford the gift it’s a bad choice. Generosity is a two-way street. It must be as evident for the giver as the recipient.

No gift that explodes your budget is necessary. And don’t tell me you feel obligated to buy gifts, even though you know it’s not a smart financial move. People you love would be ashamed to know you over-extended yourself to give them a gift that isn’t affordable. And for all the other people in your life you don’t deeply care about, a gift is not necessary. A heartfelt note is all that is necessary.

 And I always want you to make sure you are standing in your truth when you make any decision, whether it is a $25 gift purchase or a $250,000 home purchase. Always ask yourself if what you are about to do jibes with who you are, what you care about, and your goals. Staying true to yourself is the kindest gift you can ever receive. You deserve it. 

Tag Cloud

speak new goallow-cost index mutual fundhigh premiumsprotect your familyCNBChome ownershipreduce interest rateonly refinance if it paysonly offered while employed student loan debtUrbana-Champaigncut monthly cable billemotional stakeshealthy gumsGraceCombo Insurance Productscar leasinghealthy retirement blood pressurePBS Specialrising home pricesInfluential CelebrityHow To Build Creditbuy down pay high rate off firstRetirement Incomesame-sex marriageprotect loved ones Financial Awarenesssidelinedclosing costs 2% of loanhigh credit score discountstudentConventional loan PMIwomen outlive menterm life insuranceraise insurance deductibleraise deductiblesdear suzesmall changes Spendingpublic service loan forgiveness programNew York Lifeheartachefile asaphome budget after tax costFederal Funds Rate8 Rulescontribute household expenses FICO credit score credit card mortgagedon't charge a penny740 credit scorecollege studentwives should be involved in retirementchildren's bookUniversity of Floridabest interest of investoritemized deductionlowest cost fund optioninsurance yearly reviewadvice for college graduatesovercome financial fearsstudent loan repayment estimatorallowancedebtthree year car loancredit unionHDHP/HSArequired disclosurefinancial concernlong term goalInflation BenefitAARP Social security calculatorcommunity collegefiduciarybuying a cargift not loanrequire chore in exchange for allowancewould you decline a bonus8 month safety netretain separate credit cardsholiday spendinghealthy youburn out!00% tuition paidannual cost of living adjustmentWillinterest capitalizationwomen long term carecompare monthly expensesfull retirement ageritual schedulewomen live longerlet them have 50% controlcollege graduatecostly legal big results buying car 2016doctors in network10% donate to charitystretch out haircut appointmentsRevocable TrustCPI-Wgift up to 14,000non conventional routePost-Divorcemanage student loanshome buying seasonfamily save at least $100 monthlyraising interest ratesfinancial fearssavings pleasuresocial workprescription tiermobile appsuitablerefinanceTelepicturesExhibitionprotect dependent Legal Guardiandon't do five year car loandon't use allowance as bribeForbes Top 10rent vs buy2016 adjust withholdingat worst still pay 75% benefitget credit cardFinal GoodbyePersonal FinanceHoliday Seasontax ID theftMortgage Credit Availability Indexspring summer Alarm Clockmax employer matched 401(k) contributionPhyllis Shelton expert long-term careFinancial AdviceSwap Older Annuities or Life Insurance life insurancesummer job match income ETF'snot enough life insurancepush yourself to save more for retirementpermanent life insurancepaid in fulllow credit scoreBeauty3 step financial road maphousing marketHoliday Shoppingpresident ObamaGay CouplesStudent Debt40% toward financial goaltitle insuranceis it necessary?don't blow tax refundis it kind?Interestfinancial independenceSuze approvedmortgage disclosurequick closingpaid vacationcostly insurance mistakehighest possible benefitFICO Scorebreakdown projected monthly housing costfile taxes quicklypositivehealthy retirement weightearn allowancegrandparent IRA contribution max employee matchmoney vowshigh deductible health care planengaged in financesfinancial argumentsclosing disclosurebalance transfer 15-year refinance dealco-sign 6 month waiting periodFinancial Systemget the most out of social security Student Loandon't defer interest paymentsage appropriate chorereplace permanent life insurance with termfocus on needsbetter loan dealscommitAmy Lacyetphysical healthfraudulent returnsavingsallowance taskJose RodriguezAccuQuote.comalternative FICO scoreexercise reguarlyschedule vacationmarriage financial responsibilitymax benefit coveredChanging Livesterm insurancemortgageFICO at least 720automatic withdraw to savings Warner Bros Television Groupletter to suzedon't ignore open enrollmentlearn good financial choicesdon't cover cosmetic dentistrySave Us Moneysecured cardkid borrow firstloan necessityCory BookerSuze is my biggest mentorARMbad retirement planning50 over 50Wall Streetnegotiate points with bank or sellerlive below your meansverify retirement plan with HR or plan sponsorhome buying mistakesFiscal Responsibilityhome related tax break bonus increase emergency savingsnear historic lowssocial securitygift grandchild IRA contributionemergency fund savingsdangerous money seasonno fee transfershop online guaranteed level term policyretirment savingsgrandchild summer job IRA contributionstaycationstore credit cardsleave a legacy20 to 25 times annual incomeLTC shoppingRetirement SavingsCredit Card Interest Rateignore 6 month grace period 3% debt transferred rolloverFederal Reserveworst financial mistakeCredit Card Rate Increasechildren under 18HDHP's are good for youbuy home you can affordbest loan deal focus on new truth pay down car loanno splurge home loan credit score below 740 home insurancereal estate marketoverspend on nights outForeclosure4 Must Have Documents meet monthly yours, mine & oursautomate student loan paymentsdental savings planfederal student loan deferment consider roth 401(k)don't extend mortgage get health insurancereferrals approved medical 100% tax-freepowerfulpoint cost offset by savingstake actionpay interest while in schoolSelectQuote.comno apologyeight month living expense no tax on withdrawls2015 financial roadmapmultiple lendersemployer offered life insurancejuggle multiple financial goalsGiftsfour steps to retirement savings couple finances20% down payment avoid feesBill and PennySuze Orman spouse Kathy Travisschool financing car Financial Power of Attorneylong term careAdequate Auto and Home Insurancepay more than minimumStaffords this year have a fixed 6.8% interest rateFixed Rate Mortgageage appropriate goalsHigh FICO Score = Better Rate2015 record year car salesbill paying prioritiesVital Documentsanticipated salaryspecial saving accountfinancial goal phrasehigh FICO scoreThe Suze Orman Showhealthy aging don't buy wantsUS Tax CodeFinancial Solutions For YouMust Have DocumentsCivil RightsFRAno retirement funds for down paymentface your financial fearteach your child good money habitslife insurance name trust as beneficiaryuniversal college accessBankARM Cautionpreexisting condition not coveredknow before you oweadult childrentraditional vs roth 401(k)monthly dental insurance premiumMass Mutualcommunity banktax refund fraudkeep a scheduleOne Wallet At A Timefinancial aidadd teenstudent loan repayment plancnbc alarm clockHolidayHDHP's are not badno private loanFinancial Awareness Video Festivalcut monthly cellular billSuze Orman's Money WarsMoney-Savingtaxesiffy incomebe good examplebecome member do you need life insuranceInvest for savings growthmarriage inequalitylow down paymentprofessional advisorRichteach importance of helping othersAshley SpringerFederal Stafford loan30 year mortgage lower rateenjoy saving confidentstandard deduction Minor Children Money Marketcompare provider pricingEmployer Matched Contributionalways use all paid time offCOLALifestyle20% down paymentshort term goal borrow each year, capitalization is going to pile up dangerous retirement planis it necessaryGiftcredit cardno private loansno sneaking in feesHigh Credit Score8 month emergency funddebit cardaccelerate dental workgay marriage ban end Florida lower mortgage interestMost Influential Celebrities ListSatisfyingCollege of Veterinary Medicinelower interest ratepercentage men widowed 75-84Suze Orman Scholarshipcontribution LoveAuto Savings depreciating asset insuranceloved ones dependent on incomeLong Term Care Insurance loan is giftpurely financial standpointincrease retirement contribution rateunexpected expenseFundsconfident of solution10 year repayment plan Suze OrmanTeachVeterinary School20% equityback-to-school budgetMoneyteensvalue moneyCommunication Skills derailed planPrime Rate Increasebe kind to yourselfno late fee Roth 401(k)television hostcredit reportverify wellness screening and programslower premiumlong-term care premiumsUniversity of Illinoisnew carSchool of Social WorkgraduationPay Off Debt Before Retirementraising mortgage rates commissionsWashingtonresponsible with moneydoctor no longer in networktoo expensive schooladjust allocations lousy investmentSandy Hook Promiseloan no longer than 36monthsretirementYoung Adult mortgage brokercredit managementHDHP best interest ratesaffordabilityroth iraescrowreduce monthly paymentAARP2017 Taxescalculate dependents annual income needsshorter payback periodemergency fund public service career student loan repayment don't derail retirement savingswaive home inspection bidincrease retirement savingsStudent Debt Crisisone credit cardLTCi ASAPbetter termsprovider of financial supportHDHP'sstay positivemake saving a pleasureborrowing plan switch to spouse coveragepay down student loan debtSandy Hook Elementary Schoolorigination feesidentity theftCommencementFederal PLUS loanBankruptcyMarlo Thomasunsubsidized Stafford loanHeartautomatic paymentNew american Dream property taxEasy Life Insurance planzero rate transfer dealssame sex marriage band end Floridalower overall drug costclosing feesStock Investmentshealthy teethhigher monthly paymentidentity fraudHSA tax savingsbetter loan rates15 year mortgagerepay student loansSelfishno negativityresponsibleinsurance mistakecost of capitalization calculatorno waiting periodstrained relationshipback door Roth IRAno life insurance financially irresponsiblecan you afford itpercentage of women widowed 75-84women longer life spanForbeswrite new goal19 years cash flow problemGoodbyeavoid burn outsave moneydeath benefit 20 to 25 times annual incomehigh down paymentprotect and provide for minor child charges on credit cardinitial tax break setup automatic savings withdrawIRA contribution gifted money3 bucket approachmortgage interest tax deductionpay off debtEric Dodge Revocable Living Trustdental insurance retirement accountsCredit scorestandard rateDeath BenefitFree Debt Eliminatorbudgetswitch to roth 401(k)under 18 financial gifteliminate credit card debtOverspendingmoney-aware childsave reduce withholdingkids schedule paymentsInfluentialshigher insurance deductibleloan big picture do not pay allowance for good behaviorlong-term care secure creditlow mileage discountoverspend on dining outno interestDurable Power of Attorney for Health Careis it true? peace of mindone annual feerefundBaby Boomers3 savings buckets Emergency Savingsmental healthultimate compounding giftNewtownreal estate mistakesget over life insurance phobiaFinancial Educatorbe true to yourselfbuy homeCD'sPrime Rate Rise 2015open enrollment review Citi Simplicity Card LTC401KFinancialretirement planFinancial Gift Cliffmonthly benefit pay credit debt ASAPteens and moneypay 100% cashAmericans don't use all paid vacation time401(k) Contributionsemployer funding HSAsuccessdream schoolpaying for collegeaffordable premiumFHA loan feesvalentines dayjanuary billsbad decisionsMothersocial security never insolventoverspend on gifts20 year level term student loan repaymentinterest on student loanshome buying budgetcredit utilization ratecreate new truthdon't spend debt freeLong Term Care shoppingFinancial Cliffincentives for health care wellness screeningmaintain standard of livingincreased auto insurance premiumpremiumcar loanLong Term Care premiumscar buying mistakes2016 adjust estimated taxraise your deductibleGay Rightsdental discount plancomparison shoppingsocial security not going brokeSuze changed my lifeearn more on savingsworkaholicnot gender specific death benefit needs for family


View Blog & News List
People First. Then Money. Then Things.
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
© 2017 Suze Orman Media Inc. All rights reserved.
 
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel